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Starting next week, the ZKsync Association will distribute 3.675 billion ZK tokens (17.5% of the total supply) to its community members. Announced on Tuesday, the airdrop will be available for claiming from June 24th, 2024 until January 3rd, 2025.
ZK tokens serve a governance function within the ZKsync protocol. By holding ZK tokens, users gain voting rights on protocol upgrades and contribute to network fee payments. As the third-largest zero-knowledge proof-based Ethereum Layer 2 scaling solution, ZKsync boasts over $750 million in secured network assets according to L2Beat data.
ZKsync Prioritizes Community Ownership with Generous Airdrop
ZKsync breaks the mold with its token allocation strategy. While nearly half (49.1%) of the tokens fuel ecosystem initiatives, a community airdrop takes center stage. This airdrop distributes 17.5% of the total supply, exceeding the allocation for both investors (17.2%) and the Matter Labs development team (16.1%). To further empower the community, these team tokens are locked for a year with gradual unlocking starting in June 2025.
This innovative approach ensures the community holds the most significant influence over ZKsync’s future. When the ZKsync governance system launches, token holders will vote on crucial decisions like protocol upgrades and network fees. By prioritizing community ownership, ZKsync fosters a decentralized and user-driven ecosystem.
Airdrop Eligibility and Distribution
The ZKsync airdrop targets active users within the ZKsync ecosystem. As of March 24th, 2024, a snapshot captured activity on both ZKsync Era and ZKsync Lite to identify 695,232 eligible wallets. The token distribution prioritizes users, allocating 89% of the airdrop pool to them. The remaining 11% is designated for contributors who actively supported the ecosystem’s development.
To ensure a fair distribution, ZKsync implemented a points system based on user activity. Engaging in actions like smart contract interactions, providing liquidity to DeFi protocols, and trading ERC-20 tokens earned users points. Notably, contributions on ZKsync Lite, such as donations to Gitcoin rounds, also factored into point allocation.
A minimum threshold of 450 ZK tokens was established for individual airdrop allocations. Wallets falling below this threshold will have their designated tokens recycled back into the pool, guaranteeing a minimum distribution of 917 ZK tokens per eligible wallet.
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